371.160. Limit on obligations, exceptions. - Missouri Statutes

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Statutes > Missouri > T24 > C371 > 371_160

Limit on obligations, exceptions.

371.160. At no time shall the total obligations of thecorporation exceed ten times the amount of paid-in capital andsurplus, not including therein the earned surplus. Thislimitation shall not apply with respect to that portion of thecorporation's obligations incurred with respect to assets orinvestments to the extent that they are secured or covered byguaranties or by commitments or agreements to take over, orpurchase, made by the United States of America, or by anydepartment, bureau, agency, board, commission or establishment ofthe United States including any corporation, wholly owned,directly or indirectly, by the United States, pursuant to theauthority of an act of Congress heretofore or hereafter adoptedor amended or pursuant to the authority of any executive order ofthe President of the United States heretofore or hereafter madeor amended under the authority of any act of Congress, heretoforeor hereafter adopted or amended.

(L. 1961 p. 157 § 15, A.L. 1973 S.B. 90)

State Codes and Statutes

Statutes > Missouri > T24 > C371 > 371_160

Limit on obligations, exceptions.

371.160. At no time shall the total obligations of thecorporation exceed ten times the amount of paid-in capital andsurplus, not including therein the earned surplus. Thislimitation shall not apply with respect to that portion of thecorporation's obligations incurred with respect to assets orinvestments to the extent that they are secured or covered byguaranties or by commitments or agreements to take over, orpurchase, made by the United States of America, or by anydepartment, bureau, agency, board, commission or establishment ofthe United States including any corporation, wholly owned,directly or indirectly, by the United States, pursuant to theauthority of an act of Congress heretofore or hereafter adoptedor amended or pursuant to the authority of any executive order ofthe President of the United States heretofore or hereafter madeor amended under the authority of any act of Congress, heretoforeor hereafter adopted or amended.

(L. 1961 p. 157 § 15, A.L. 1973 S.B. 90)

State Codes and Statutes

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State Codes and Statutes

Statutes > Missouri > T24 > C371 > 371_160

Limit on obligations, exceptions.

371.160. At no time shall the total obligations of thecorporation exceed ten times the amount of paid-in capital andsurplus, not including therein the earned surplus. Thislimitation shall not apply with respect to that portion of thecorporation's obligations incurred with respect to assets orinvestments to the extent that they are secured or covered byguaranties or by commitments or agreements to take over, orpurchase, made by the United States of America, or by anydepartment, bureau, agency, board, commission or establishment ofthe United States including any corporation, wholly owned,directly or indirectly, by the United States, pursuant to theauthority of an act of Congress heretofore or hereafter adoptedor amended or pursuant to the authority of any executive order ofthe President of the United States heretofore or hereafter madeor amended under the authority of any act of Congress, heretoforeor hereafter adopted or amended.

(L. 1961 p. 157 § 15, A.L. 1973 S.B. 90)